DMPQ- What is International Solar Alliance (ISA) ? Discuss it’s interests and objectives in achieving renewable energy goals.

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The International Solar Alliance (ISA) was conceived as a coalition of solar-resource-rich countries (which lie either completely or partly between the Tropic of Cancer and the Tropic of Capricorn) to address their special energy needs. The ISA will provide a dedicated platform for cooperation among solar-resource-rich countries, through which the global community, including governments, bilateral and multilateral organizations, corporates, industry, and other stakeholders, can contribute to help achieve the common goal of increasing the use and quality of solar energy in meeting energy needs of prospective ISA member countries in a safe, convenient, affordable, equitable and sustainable manner.

As guided by the Framework Agreement of the ISA, the interests and objectives of the ISA are as follows:

  • To collectively address key common challenges to scale up solar energy applications in line with their needs;
  • To mobilize investments of more than USD 1000 billion by 2030;
  • To take coordinated action through programmes and activities launched on a voluntary basis, aimed at better harmonization, aggregation of demand, risk and resources, for promoting solar finance, solar technologies, innovation, R&D, capacity building etc.;
  • Reduce the cost of finance to increase investments in solar energy in member countries by promoting innovative financial mechanisms and mobilizing finance from Institutions;
  • Scale up applications of solar technologies in member countries
  • Facilitate collaborative research and development (R&D) activities in solar energy technologies among member countries.
  • Promote a common cyber platform for networking, cooperation and exchange of ideas among member countries.

 

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